Agribank to reschedule 10.5 billion USD worth of debt for epidemic-hit customers

At a transaction office of Agribank (Photo: VNA)

Hanoi (VNA) – The Vietnam Bank for Agriculture and Rural Development (Agribank) has announced that it plans to reschedule debts worth 250 trillion VND (10.5 billion USD) for pandemic-affected customers in the second and third quarters of 2020.

So far this year to April 17, Agribank extended repayment deadlines and cut interest rate for debts totaling nearly 30 trillion VND for nearly 15,000 customers, who faced difficulties due to the impact of the COVID-19 pandemic.

The bank is continuing to evaluate the levels of the pandemic’s impact on its borrowers, and work with customers to review their production and business plans, in order to provide suitable support.

Apart from restructuring debts, Agribank is implementing a credit package worth 100 trillion VND to help customers affected by COVID-19 stabilise and develop their operation.

Since January 23, Agribank has lent over 300 trillion VND, including over 8.1 trillion VND of new loans to 5,892 customers affected by the epidemic./.